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 It's a new game

Dear Shareholders and All Concerned,

We greatly appreciate your long-term and continued support for Accordia Golf.

This is to inform you that our Common Stocks were delisted by Tokyo Stock Exchange on March 23rd, 2017 as a result of the proposition regarding stock consolidation approved in the extraordinary shareholders’ meeting on February 28th, 2017.

We will continue to work on maximizing our corporate value and appreciate your continueous support and cooperation.